Report on impact of technology at workplace
The impacts of technological innovation are very many to say the very least. The innovations have in a great way impacted on the way businesses are conducted nowadays, and have made transactions more efficient, timely and cost effective. Just to illustrate on this, we shall have a look at one organization whose economic advantage has been impacted as a result of the use of the new technology.
What is the name of the business, its line of work, the size and nature of its workforce?
The name of the business is HSBC Bank, located in Canada. Its line of service is in the financial sector, where it is concerned with banking and financial services. The bank has grown from sole proprietorship in 1865 when it was still a private corporation, to a workforce of thousands of employees the world over. Today, the bank serves many countries like Canada, Hong Kong, China, India, Korea, just to mention a few. Within Canada, the bank has got over 190 branches.
What is the name of your primary source of information?
The source of data used for the analysis of the impacts of technology at the work place and consequent report is both primary and secondary data. The primary source of data was an interview with one of the branch’s manager, whose identity will be withheld for the sake of remaining anonymous. The secondary data was mainly a review on literature on what other people have to say about the impacts of technology on this bank. A little bit of research was also carried out to have a feel of what some of the clients to the bank had to say about it.
What is the nature of the technology introduced?
The nature of the technology introduced into the bank is CORE banking system, which refers to a networking of services from one main communication point to others that are branches of the same. According to Sriram in the book Core Banking systems; 30 case studies, 2009, p.56, this form of networking allows clients to access services from different points, which would otherwise have required them to visit their main branch. For this bank, therefore, core banking system has enabled the clients to withdraw their money from just anywhere where there is an Automated Teller Machine affiliated to HSBC.
Why was it introduced?
The reason why the core banking system was introduced was to, as earlier mentioned; facilitate transactions anywhere any time, even when a client is far from the branch or country with which they hold an account. This was seen as an effective way to increase sales and retain clients.
What sort of timeframe was used when this technology was implemented?
The timeframe that was used when this technology was being implemented was about eleven months. The implementation process underwent a series of steps and phases that included pre-testing, testing and post testing and which required such a long time frame to complete, considering the number of new branches that the new system was supposed to support after implementation.
How was the decision to introduce this technology made?
According to the feedback given by the manager, the decision to introduce the technology was made after research had been carried out on the impacts this technology was having on firms and organizations that had adopted this baking system.
Was the workforce consulted before the technology was introduced? What was the response of the workforce to the new technology?
The management team consulted with the entire workforce team; since it was evident that introduction of the new technology would affect operations all across all levels of operations. The workforce was a bit reluctant to accept the implementation of the new technology as we very well know that change is not always welcome. However, after some briefing on what the bank hoped to achieve after the implementation, the workforce pledged to give their support to the implementation process and the outcome thereafter.
Was there resistance to the technology and if so, how did it manifest itself?
Resistance to the technology was not evident as the workforce was literally taken through a training course on the use, and coping strategies of the new technology.
How difficult/easy was training for the new technology?
Training for the new technology was not as easy, bearing in mind that this was a new system that the bank’s workforce, including the management, was not used to before. However, employees were more than willing and ready to learn and this is what made the whole process much easier and bearable.
What was the impact of the technology on productivity?
The impact of the technology on productivity of the bank is that it raised the number of transactions that the bank could possibly carry out in a day from an average of 51% to 68% in a period of five months after implementation. Furthermore, it meant that the staff in the bank could now relate with clients on a one-on-one basis, more than ever before, now that the number of clients streaming in the banking halls was reducing significantly as they could access the same services from other branches.
How does the workforce feel about the technology now?
The workforce is grateful to the management for the idea of the introduction of the technology because it has in a way reduced their workload. However, they still feel there is a lot more that can be done to make the system even better, for example, upgrading it every now and then depending on the upcoming innovations in technology (IBS Intelligence, 2010, p.6).
In view of the above, it is evident that technology has had full impacts on businesses and especially on the workforce in terms of productivity. Workplaces need to take advantage of upcoming technological innovations in order to boost their operations, enlarge their networks and impress all their stakeholders.